Prospect Ridge Announces New Channel Results up to 30.8 Grams PER Tonne GOLD and up to 281 Grams PER Tonne Silver, over 0.71 Meters from Mint 2B Zone ON the Recently Acquired Knauss Creek Property
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PROSPECT RIDGE ANNOUNCES NEW CHANNEL RESULTS UP TO 30.8 GRAMS PER TONNE GOLD
AND UP TO 281 GRAMS PER TONNE SILVER, OVER 0.71 METERS FROM MINT 2B ZONE ON THE
RECENTLY ACQUIRED KNAUSS CREEK PROPERTY
Vancouver – December 8, 2021 – Prospect Ridge Resources Corp. (the "Company" or "Prospect
Ridge") (CSE: PRR) (OTC: PRRSF) (FRA: OED) is pleased to announce results from preliminary
exploration from the Mint 2B zone on the recently acquired Knauss Creek property, returning
new channel assays of up to 30.8 grams per tonne gold, 281 grams per tonne silver, 2.92 percent
lead, 0.7 percent copper and 3.27 percent zinc over 0.71 meter.
The Mint 2B zone is located only 3 linear kilometers from CN Rail with a direct line to a deep-
water port at Kitimat, BC and logging roads right to the main showing. The Knauss Creek property
is contiguous with the Holy Grail property, located on the eastern side of the district-scale land
package. Approximately, a 35-meter-deep adit was driven into a 2.5-meter-wide polymetallic
quartz vein in the early 1900s around the same time as the Dorreen Mine discovery in 1912,
located 2.5 kilometers to the southwest.
Mint 2B Historic Highlights
• Multiple polymetallic veins up to 2.5-meter-wide exposed in bedrock
• 2003 Assays from J1 vein return up to 18.54 g/t gold and 541 g/t silver
• 2003 Assays from J2 vein return up to 29.54 grams per g/t and 415 g/t silver
• 2016 from 12 rock samples obtained from various veins, 11 returned values ranging:
0.05 to 7.87 g/t Au, 106 to 1644 g/t Ag, 0.02 to 0.96 % Cu, 0.91 to 5.02 % Pb and 0.085
to 13.88 % Zn
2021 initial channel assays results have returned up to 30.8 grams per tonne gold, 281 grams per
tonne silver, 2.92 percent lead, 0.7 percent copper and 3.27 percent zinc over 0.71 meter. The
channel was cut on a 0.5-meter-wide polymetallic vein containing abundant pyrite, chalcopyrite,
arsenopyrite, sphalerite and galena. Prospecting samples from earlier in 2021, down strike on
the vein yielded 24.8 grams per tonne gold, 252 grams per tonne silver, 0.8 percent copper, 3.3
percent lead and 2.3 percent zinc. The vein is near-vertical with a north-south trend relative to
the alternate veins that primarily follow a northeast strike.
Alternate channel sample across a 2.5-meter-wide vein and wall rock 80 meters away averaged
2.4 grams per tonne gold equivalent over 2 meters. Approximately, at the adit level 15 meters
lower in elevation, 2021 grab samples returned 3.98 grams per tonne gold and 4,740 grams per
tonne silver. Inspection within the adit showed minor collapse and consistent vein width with
consistent sulphide content for the entire 30 meters into the vein.
488-1090 West Georgia Street
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Figure 1. Photos of Mint 2B Zone 2021
In the Mint 2B zone the polymetallic quartz veins are primarily hosted in an altered quartz diorite
or in the interbedded silt, tuff and mudstones of the Bowser Lake group. The altered intrusive
host forms broader alteration halos around the veins. Minerology is similar to mineralization at
the Dorreen Mine site, 2.5 kilometers southwest on the property, in which 2021 assays have
recently returned 57.3 grams per tonne gold and 116 grams per tonne silver. The Dorreen veins
are flat-lying and stratiform in the sedimentary layers of the Bowser Lake group; quartz diorite is
also present as dykes. Both zones share the same mesothermal to epithermal characteristics as
seen in other parts of the Holy Grail property. Samples from this region of the property have a
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stronger epithermal geochemical signature with elevated As and Sb and are likely representative
of a shallower part of this immense hydrothermal system.
Figure 2. Map of approximate prominent vein exposures and inferred trend
In 2021, exploration focused on the area around the main Mint 2B showing with prospecting, soil
sampling, trenching, chip and channel sampling, and preliminary mapping. Exploration utilized
the existing logging road network that allowed for cost effective exploration and minimal
disturbance. The majority of the 2021 assay results are still pending and expected in the following
months. Reconnaissance prospecting across strike approximately 850 meters to the south
revealed polymetallic quartz veins with pyrite, chalcopyrite, sphalerite and galena trending in the
same northeast direction. Various mineralized exposures have been found intermittently for over
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500 meters along strike to the southwest and remains open. From the 2021 exploration results,
approximately 71 % of the prospecting samples returned over 0.5-grams of gold and up to 24.8
grams per tonne gold, with strong silver and base metal credits. Below are the tabulated results
to date for 2021 on the Mint 2B zone.
SAMPLE Sample
Type
Au_eq
(g/t)
Au
(ppm)
Ag
(ppm)
Cu
(ppm) Pb (%) Zn (%)
C363054 Grab 5.95 1.465 185 5770 3.02 2.64
C363055 Grab 5.93 2.06 179 2680 2.68 2.44
C363057 Grab 6.65 3.42 140 3200 0.63 0.91
C363058 Grab 5.52 0.96 216 3810 3.65 1.29
C363059 Grab 68.57 3.98 4740 5480 0.84 0.29
C363060 Grab 0.52 0.133 18.1 229 0.1 0.1
C363001 Grab 30.57 24.8 252 8050 3.34 2.34
C363002 Grab 8.18 3.13 232 5410 2.6 1.48
C363007 Grab 4.54 0.375 170 1780 3.14 0.4
C363008 Grab 10.49 3.34 440 1540 1.14 1.53
C363009 Chip (1m) 0.09 0.015 2.5 109 0.01 0.03
C363011 Chip (2m) 2.41 0.064 89.3 1505 1.46 0.45
C363133 Grab 7.37 2.4 324 1408 0.52 0.32
C363136 Grab 5.72 1.229 298 569 0.81 0.11
Figure 3 – Table of 2021 rock sample results to date on Mint 2B Zone
SAMPLE Length Au_eq
(g/t)
Au
(ppm)
Ag
(ppm)
Cu
(ppm)
Pb
(ppm) Zn (ppm)
D793774 0.82 2.17 0.104 101 597 9171 3793
D793776 1.02 3.02 0.458 139 738 11300 1647
D793781 0.75 5.55 0.284 296 1109 25300 831
D793784 0.83 2.46 0.912 93 534 3508 1120
D793786 1.09 1.25 0.628 29 546 2338 702
D793787 0.72 2.69 0.305 139 2830 1.34 803
Figure 4 – Table of 2021 channel sample results on Mint 2B Zone
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SAMPLE Line ID Length
(m)
Au
(ppm)
Ag
(ppm)
Cu
(ppm)
Pb
(ppm)
Zn
(ppm)
Au_eq
(g/t)
Au_eq (g/t)
for Line
D793758 1 2 0.375 85.8 357 10300 640 2.06 2.433587 D793759 1 2 0.63 91.7 1130 11300 4631 2.81
D793764 2 1.36 30.8 281 7025 29200 3.27 37.01 27.3617125 D793765 2 1.36 0.169 0.9 44 115 177 0.20
Figure 3 – Table of 2021 Channel sample results with line averages on Mint 2B Zone
Michael Iverson, CEO states, “This is an outstanding first pass of exploration results from the
Mint 2B zone. We are overwhelmed and can’t wait for the remainder of our results to come in,
each time it gets a little bit bigger.” Mike Iverson continues, “We’ve had a number of experienced
geologists and veteran prospectors visit the zone and they have all come to the same conclusion
that gold and silver are obviously here, but the question is how much can be discovered.”
Based on these preliminary results and the access almost directly to the main showing, potential
drill sites have been delineated and the area will be a focus of drilling in 2022 with permits already
in process. Prior to drilling, soil sampling will be carried out in a grid layout beyond the area to
locate additional veins and extend known mineralization. This will be done in unison with Lidar,
further “boots on the ground” prospecting and an IP geophysical survey. Over 30 years of private
prospecting, geochemical and geophysical data has been accumulated by the previous claim
owners and is currently being digitized for targeted followed up on in 2022.
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Figure 4 – Mint 2B Zone Overview Map
Qualified Person
All scientific or technical information included in this news release has been reviewed, verified
and approved by Rein Turna, P.Geol., a consultant to the Company and a qualified person as
defined by National Instrument 43-101.
About Holy Grail
The Holy Grail Property is 10 kilometers outside of Terrace within 45 km from smelter and deep
sea port; the property is easy-accessible bounded by two highways with CN rail, high tension
power crossing the property and a network of logging roads over approximately 80% of the
property which will make for a very cost-effective exploration and strong feasibility. Some of the
key areas are located below tree line and can be worked nearly year-round.
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The Holy Grail district sized package now contains over 80,000 hectares. The property was
selected based on regional geological, structural, and geochemical resemblances that coincide
with mineralization 50 km northwest in the Golden Triangle. The Company believes the project
has the potential for a district scale hydrothermal system and will extend the boundaries of the
Golden Triangle to cover this vast under-explored region.
About Prospect Ridge Resources Corp.
Prospect Ridge Resources Corp. is a BC based exploration and development company focused on
strategic mineral exploration in Canada concurrently with developing a location in British
Columbia and Quebec. Prospect Ridge’s technical team and management with over 100
combined years of mineral exploration experience believes the Holy Grail to have the potential
for a district scale hydrothermal system and will extend the boundaries of the Golden Triangle to
cover this vast under-explored region.
Contact Information
Prospect Ridge Resources Corp.
Michael Iverson, Chief Executive Officer
Email: [email protected]
Telephone: 778-788-4836
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the Canadian Securities Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This release includes certain statements and information that may constitute forward-looking
information within the meaning of applicable Canadian securities laws. Forward-looking
statements relate to future events or future performance and reflect the expectations or beliefs
of management of the Company regarding future events. Generally, forward-looking statements
and information can be identified by the use of forward-looking terminology such as “intends” or
“anticipates”, or variations of such words and phrases or statements that certain actions, events
or results “may”, “could”, “should”, “would” or “occur”. This information and these statements,
referred to herein as "forward-looking statements", are not historical facts, are made as of the
date of this news release and include without limitation, statements regarding discussions of
future plans, estimates and forecasts and statements as to management's expectations and
intentions with respect to, among other things, positive exploration results at the Knauss Creek
project. These forward-looking statements involve numerous risks and uncertainties and actual
results might differ materially from results suggested in any forward-looking statements. These
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risks and uncertainties include, among other things, that future exploration results at the Knauss
Creek project will not be as anticipated.
In making the forward looking statements in this news release, the Company has applied several
material assumptions, including without limitation, that future exploration results at the Knauss
Creek project will be as anticipated.
Although management of the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in forward-looking statements or
forward-looking information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such statements will prove to
be accurate, as actual results and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue reliance on forward-looking
statements and forward-looking information. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. The Company does not undertake to
update any forward-looking statement, forward-looking information or financial out-look that
are incorporated by reference herein, except in accordance with applicable securities laws. We
seek safe harbor.